Illinois Municipal Retirement Fund Has $3.39 Million Stake in Core & Main, Inc. $CNM

Illinois Municipal Retirement Fund lifted its stake in Core & Main, Inc. (NYSE:CNM) by 16.3% in the second quarter, Holdings Channel.com reports. The firm owned 56,129 shares of the company’s stock after acquiring an additional 7,880 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Core & Main were worth $3,387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bfsg LLC boosted its stake in shares of Core & Main by 56.4% during the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Core & Main by 815.7% during the second quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock worth $39,000 after acquiring an additional 571 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the last quarter. CWM LLC grew its stake in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares in the last quarter. Finally, Steph & Co. acquired a new position in Core & Main in the 2nd quarter worth about $53,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Core & Main

In other news, CEO Mark R. Witkowski sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $64.08, for a total transaction of $6,408,000.00. Following the completion of the transaction, the chief executive officer directly owned 35,847 shares of the company’s stock, valued at approximately $2,297,075.76. This trade represents a 73.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.53% of the company’s stock.

Core & Main Price Performance

Shares of CNM stock opened at $49.01 on Thursday. Core & Main, Inc. has a 12 month low of $41.64 and a 12 month high of $67.18. The company has a market capitalization of $9.68 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 0.98. The stock has a 50 day moving average of $52.36 and a two-hundred day moving average of $57.04. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, September 9th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.Core & Main’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group initiated coverage on Core & Main in a report on Monday, September 29th. They set a “buy” rating and a $65.00 price target for the company. Zacks Research upgraded shares of Core & Main from a “strong sell” rating to a “hold” rating in a report on Monday. Barclays decreased their price objective on shares of Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Wells Fargo & Company upped their price target on Core & Main from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Finally, Truist Financial reduced their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 11th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.64.

Core & Main Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.